Interactions between Global, Regional and National Governance: The Case of the Financial Action Task Force

Edefe Ojomo

Chapter 12 in Research Handbook on Global Governance, 2025, pp 260-279 from Edward Elgar Publishing

Abstract: Global governance institutions like the Financial Action Task Force (FATF) influence states and transnational actors through structured mechanisms. Based in the Organisation for Economic Co-operation and Development, the FATF extends its mandates globally via national institutions and FATF-styled regional bodies (FSRBs). These bodies diffuse FATF standards to member states and oversee implementation through a three-level distributed administration. This chapter examines this governance mechanism, focusing on the regulation of financial systems and using the Inter-Governmental Task Force against Money Laundering in Africa (GIABA) as a case study. GIABA, the West African FSRB, highlights key issues in this model, such as the interplay of power and interests in shaping its establishment and effectiveness. The analysis argues that the FATF employs a strategy of engagement and exclusion, using its influence to set global standards and align national and regional actors with its goals, demonstrating a balance of cooperation and control in global governance.

Keywords: Global governance; Regional governance; National governance; Financial Action Task Force (search for similar items in EconPapers)
Date: 2025
ISBN: 9781789906325
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